Specifically, it was a Reference 6263 that went under the hammer at The Well-Appointed Life auction by Salcedo Auctions late last month, and we’re thrilled—if a little flabbergasted—to report that it sold for Php22.2 million.

IMAGE esquiremag.ph

Yeah, don’t worry—all zeroes accounted for. The hammer price was at Php22,192,000. That's twenty-two million, one hundred, and ninety-two thousand pesos. The new record for most expensive watch ever sold at auction in the Philippines.

It’s also worth more than three Porsche Caymans, or three Range Rover Evoques, or 41 Toyota Wigos (based on the buyer’s guide in the October 2017 issue of Top Gear Philippines). It should also be enough for a couple of upscale condos. Imagine wrapping all of that around your wrist.

We reached out to the watch's new owner, who anonymously explained why he bought it:

"The Paul Newman is the holy grail of Daytonas. It was always on [my] watch list, but it was never cheap. However the tipping point [was] that the real Paul Newman watch is coming up for sale in an upcoming auction. I am sure the price will go over the roof, and together bring up all the other so-called Paul Newman Daytonas. Figured if I do not buy now, I will regret for a long time."

Also, amazingly, it isn't even the most expensive watch he owns:

"It is not the most expensive watch (in value) that I own. But it is in terms of hard cash that I paid."

But of course, that’s just in the Philippines. The Newman Daytona pales in comparison to the most expensive watch ever sold at auction worldwide: the Patek Philippe Reference 1518, which went for $11,112,020 in a Geneva auction in November 2016. That’s about P568,791,000 by today’s rates. It was the very first perpetual calendar chronograph ever manufactured in a series, and the first (literally stamped with the number “1”) of only four steel units of its kind, which is why it fetched such a handsome price.

ADVERTISEMENT - CONTINUE READING BELOW

IMAGE esquiremag.ph

Other super rare and super expensive watches sold at last month’s The Well-Appointed Life auction include a Rolex Comex Submariner Reference 5514/0, which went for P6.4 million; and a Patek Philippe Perpetual Calendar Grand Complication Ref. 5327G-001, which went for P3.7 million.

IMAGE esquiremag.ph

For a full list of auction results, visit Salcedo Auctions or check out their Facebook page. For inquiries, e-mail info@salcedoauctions.com or call + 63 917 894 6550.

*This story originally appeared on Esquiremag.ph. Minor edits have been made by the Preview.ph editors.